Ghana’s headline inflation increased to 3.7% in May 2026, up from 3.4% in April, according to the latest Consumer Price Index (CPI) data released by the Ghana Statistical Service on Wednesday, June 3, 2026.
On a month-on-month basis, inflation also edged up to 1.1% from 1.0% in April, indicating a moderate increase in price levels during the period.
The latest figures represent the second consecutive monthly rise in headline inflation. However, the rate remains significantly lower than the 18.4% recorded in May 2025.
Food prices contributed notably to the increase in inflation. Annual inflation for food and non-alcoholic beverages rose to 3.3% in May from 2.2% in April, while monthly food inflation increased to 2.0% from 0.8% over the same period. In contrast, annual inflation for non-food items eased slightly to 4.1% from 4.2%.
Data from the statistical service showed that inflation for domestically produced items increased to 5.0% in May from 4.7% in April, accounting for the largest share of overall inflation. Imported inflation remained comparatively low, although it rose marginally to 0.9%.
By product classification, services recorded an annual inflation rate of 9.9%, higher than the 1.4% recorded for goods.
Across the regions, inflation rates varied considerably. The North East Region recorded the highest annual inflation rate at 10.1%, while the Savannah Region registered the lowest rate at -3.0%, indicating a decline in the overall price level compared with the same period last year.
